Virco Manufacturing Corporation Declares Quarterly Dividend of $0.03 (NASDAQ:VIRC)

Virco Manufacturing Corporation (NASDAQ:VIRC) declared a quarterly dividend on Thursday, March 5th. Investors of record on Friday, March 20th will be given a dividend of 0.025 per share on Friday, April 10th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, March 20th.

Virco Manufacturing has a payout ratio of 11.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Virco Manufacturing to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 7.6%.

Virco Manufacturing Trading Down 0.2%

Shares of VIRC stock opened at $6.26 on Wednesday. The stock has a market cap of $98.66 million, a P/E ratio of 23.19 and a beta of 0.24. The company has a quick ratio of 1.80, a current ratio of 3.98 and a debt-to-equity ratio of 0.03. Virco Manufacturing has a fifty-two week low of $5.94 and a fifty-two week high of $10.62. The business has a fifty day simple moving average of $6.38 and a 200-day simple moving average of $6.91.

Institutional Trading of Virco Manufacturing

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Virco Manufacturing by 8.9% during the fourth quarter. Empowered Funds LLC now owns 37,957 shares of the company’s stock worth $243,000 after purchasing an additional 3,095 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Virco Manufacturing by 3.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 95,057 shares of the company’s stock valued at $607,000 after acquiring an additional 3,095 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Virco Manufacturing by 111.0% during the 4th quarter. Trexquant Investment LP now owns 53,145 shares of the company’s stock valued at $340,000 after acquiring an additional 27,963 shares during the last quarter. Barclays PLC lifted its holdings in shares of Virco Manufacturing by 16.4% during the 4th quarter. Barclays PLC now owns 17,665 shares of the company’s stock worth $113,000 after acquiring an additional 2,495 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Virco Manufacturing by 16.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,404 shares of the company’s stock worth $258,000 after acquiring an additional 5,741 shares during the last quarter. 30.97% of the stock is owned by hedge funds and other institutional investors.

About Virco Manufacturing

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.